Financial Results for the Second Quarter of Fiscal 2022 /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./
Microsoft DEM revenue increases for a second consecutive quarter, reaching nearly 50% of total revenues.
- Total revenue of $4.41M, with 98% recurring and gross margins of 92%.
- Microsoft DEM revenue grew sequentially by 7% from Q1 to Q2 FY22, reaching $2.06M and 47% of total revenue.
- Adjusted EBITDA loss of $0.30M improved from Q1 FY22 adjusted EBITDA loss of $.96M.
- The number of Microsoft users on Martello's DEM platform reached 2.9M, up from 2.8M in Q1 FY22.
- Vantage DX launch accelerated sales activity for the Microsoft DEM business.
- Microsoft Global Solutions Alliance program provides new channels to market for Vantage DX.
OTTAWA, ON, Nov. 23, 2021 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a leading developer of enterprise digital experience monitoring ("DEM") solutions for thousands of customers around the world, today released financial results for the three months ended September 30, 2021. Martello software provides businesses with actionable insights on the performance and user experience of cloud services such as video conferencing and unified communications (UC), with a focus on Microsoft 365 and Microsoft Teams.
"Martello sharpened its competitive edge with the launch of Vantage DX in Q2 FY22, while we deepened our engagement with Microsoft by joining the Global Solutions Alliance program," said John Proctor, President and CEO of Martello. "Vantage DX is a game-changer for Martello, integrating a unique set of capabilities that are the result of our investments in acquisitions and product development. Working closely with Microsoft, large channel partners and enterprise IT, we are building Vantage DX momentum as businesses increasingly seek solutions to manage the complexity of Microsoft Teams performance for a hybrid workforce."
"I'm pleased that Martello has achieved sequential growth in the Microsoft DEM segment for a second consecutive quarter," said Erin Crowe, Martello's Chief Financial Officer. "Our investments in Microsoft DEM continue to bring revenue growth in this segment as it reaches nearly 50% of our total revenue in Q2 FY22. We've seen encouraging sales activity since the launch of Vantage DX, which we believe reflects new demand for Microsoft Teams performance management related to the IT complexity of hybrid work models."